BTC $43052.54 (1.52%)
ETH $2966.24 (2.18%)
USDT $1.00 (-0.0%)
BCH $511.49 (0.05%)
BSV $128.47 (-3.8%)
LTC $150.17 (-0.6%)
BNB $341.79 (-2.1%)
ADA $2.26 (-2.4%)
DOGE $0.20 (-1.4%)
BTC $43052.54 (1.52%)
ETH $2966.24 (2.18%)
USDT $1.00 (-0.0%)
BCH $511.49 (0.05%)
BSV $128.47 (-3.8%)
LTC $150.17 (-0.6%)
BNB $341.79 (-2.1%)
ADA $2.26 (-2.4%)
DOGE $0.20 (-1.4%)

Bitcoin Denies Possible Crypto Blow-Off Top Amid BTC Rally

Bitcoin Denies Possible Crypto Blow-Off Top Amid BTC Rally

Bitcoin continues to dominate the crypto market as it leaves no sign of crypto blow-off top amid its BTC rally.

Bitcoin continues to exceed the expectations of the investors in and out of the cryptocurrency market. As a result, Bitcoin remains to be on top against other cryptocurrencies in the crypto market. Today, the BTC rally continues by trading at a high price of $15,100, with a growth rate of +9.0% in the past seven days.

Source: TradingView
Source: TradingView

The graph above shows the uptrend performance of the coin since January 2020. Bitcoin also displays how it manages to maintain low volatility in the past months. If this goes on, the price of Bitcoin could break its resistance price of $15,800 amid the ongoing BTC rally. In this event, Bitcoin prediction articles suggest it could reach the price of $16,000 and might touch $17,000 if the market favors the coin.

However, if the market turns against Bitcoin, the price of the coin might fall anytime. It could plummet to as low as $14,000 and fall even further to $13,000 if not properly defended by the bulls. These might happen if investors and whales begin to doubt the cryptocurrency.

On the other hand, BTC rally supporters now consider storing their coins in their wallets instead of exchanges. In a news report, the crypto exchanges lost over 200,000 BTC from March to September. This indicates that users and investors are holding BTC in their wallets for a possible bull spike.

Crypto analyst Willy Woo observed:

Prior to this pump, the influx of new HODLers seen on the blockchain was going through the roof. Repeat, through the roof, I’m not kidding. This size of uptake was last seen in October 2017; that was one month before BTC entered its 2017 mania phase.

Moreover, Bitcoin, with all these positive market analyses and Bitcoin predictions, prevent a possible blow-off top. The report says Bitcoin eyes trillions of investment due to its great performance over the years.

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.